Needham & Company Downgrades Akorn (AKRX) to Hold

Needham & Company downgraded Akorn (NASDAQ: AKRX) from Buy to Hold.

Analyst Elliot Wilbur commented, "AKRX at last delivered its fully loaded clobetasol quarter as price inflation on this formerly obscure asset has yielded a significant inflection point in base generic EPS; a step-up that appears largely sustainable in the absence of incremental competition. While 2015 outlook embeds usual dose of conservatism, valuation levels already appear to discount further numbers upside scenarios outside of further transformative M&A and multiple sustainability above 20.0x forward EPS (2016) is not sustainable in our view. We are lowering our rating to Hold from Buy as reward/risk scenarios appear neutral at current levels."

For an analyst ratings summary and ratings history on Akorn click here. For more ratings news on Akorn click here.

Shares of Akorn closed at $53.47 yesterday.

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